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Tax Benefits of Residential Rental Property

Hours: 3
Category: Elective
New Mexico Real Estate Commission Approved

In this course, we will cover the financial issues related to residential rental property, including the rental of vacation homes. We will cover what counts as income and how to allocate expenses. You will see how to recover the cost of income producing property through annual tax deductions and learn how to report rental income and expenses on tax returns. You will also see how to handle the tricky situations when you have personal use of a property you rent out.

At the completion of this course, you should feel confident that you know how to handle the tax implications involved with owning residential rental property.

New Mexico Real Estate Commission Approval #: 21060202

Price: $29.99
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Table of Contents

Instructional Format: All courses from Empire Learning are completed online and can be accessed in your account 24 hours a day, from anywhere with an internet connection.

Course content consists of text, brief videos, and review questions to check your understanding throughout the course. To receive credit, you must pass the final exam presented at the end of the course. Please Note: The final exam cannot be submitted until the required amount of time has been spent in the course materials.

Approval Information

Empire Learning is approved by the New Mexico Real Estate Commission to offer the courses shown above for continuing education credit for New Mexico real estate licensees. Each of the courses is individually approved and has a specific approval number that will be displayed on your completion certificate.

New Mexico course approval can be verified on NMREC website. Click the "List of Approved Courses" link on the website to view all approved courses.

Note: New Mexico continuing education requirements recently changed. Renewals now require 4 hours of Core Elective and 4 hours of Ethics for every 3-year renewal cycle. Licensees will additionally be required to complete a mandated annual 4-hour CORE course in-person.